USDJPY – both triangle scenarios suggest dip buying below 117

Yesterday’s we wrote that the move to 118.83 satisfied symmetry between waves-a & c and this a-b-c rally can mark all of wave-D as this move nearly reached the ideal 119.10 target (.618 x wave-B). If wave-E is underway then the a=c target at 116.69 would be the ideal level for getting long dollars for a triangle breakout.

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